Betfair Wagering Dispute

[freerain]

Hi,

I had dispute over a settling the wager with betfair. It is about wagering menu on selecting 'Republican candidate for US presidential election'.

When i checked and double checked before placing wagers, there is not a single place saying that it would settle at the convention announcement where the candidate would be sworn in to run for presidency (for republican, it was held in September 3~5).

Problem is that betfair settled this menu on September 4th (5th). It looks quite sure that McCain would be the candidate for election in November. But the Election did not even start.

Not saying it would happen, but considering McCain's age and possible scandal around him, settling the wagers now would be totally unacceptable.

I spoke to three different agents and One of the agents at betfair emailed me:
"From the immediate point of accepting the party nomination last night, John McCain officially became the Republican presidential candidate for the 2008 US presidential election and he is now publicly referred to as such.

From this point up until the time he either wins or loses the election, or for whatever reason should be unable to contest the election, John McCain remains the Republican presidential candidate for the 2008 election. Any subsequent events cannot affect this, hence why we have settled now."

Read the post from the betfair agent in bolded text,
meaning, McCain remains to be the candidate no matter what happens even BEFORE the election.

What kind of nonsense is that?

So even if he dies in october, and he will still be the republican candidate? That is 'dead man walking'.

Again, they say it is the rule but i even talked with another agent and he said similar thing happened with Democratic Candidate and they deferred the settling until the convention announcement for 4 months (clearly showing there is not STATED RULE, rather a rule setup within the Betfair department without ever printing or showing in the rule window next to the wagering menu. Also checked the betfair rule and regulation section, but not a single comment on this menu at all)

I am mad not only because they did not respond to my question, that was sent two weeks ago, but also saying 'the rule says so', which was not even shown in any part of betfair web page.

Frankly, i can only say the wager can be settled at the time of election in November 4th, when the election is.

Hope someone can provide insight with this.

Thanks

[betbetter]

You can't be serious. I could see trying to haggle the book (not betfair though ) because you are bored or broke, but c'mon. Most everyone settled it after the primaries, as is correct.

[betbetter]

Where the Market Information or Specific Sports Rules do not specify how and on what basis a market will be settled, markets will be settled on the official result of the relevant governing body regardless of any subsequent disqualification or amendment to the result (except if an amendment is announced within 24 hours of the initial settlement of the relevant market in order to correct an error in reporting the result).

[freerain]

you go and learn how to read first, kid.
- not betfair? r u working for the bookmaker? no need to hear from you)
- bored or broke?
- most everyone settled?

you wrote in two sentences and none of them answered the question. And you are like a mouse falling from a cliff only because others are killing themselves just before you.

Thanks for the reply but i am asking an opinion about the way they settled without presenting any rules before the settlement.

[freerain]

Where the Market Information or Specific Sports Rules do not specify how and on what basis a market will be settled, markets will be settled on the official result of the relevant governing body regardless of any subsequent disqualification or amendment to the result (except if an amendment is announced within 24 hours of the initial settlement of the relevant market in order to correct an error in reporting the result).

As shown in your quote, i am not against your statement; official result is based on when? Primaries? Wager opened up until yesterday long after the primary election.

And official result is, i believe, supposed to be the one who represent the party at the time of the election. Until then anything betfair claims 'official' is not legitimate.

[betbetter]

It was'nt settled at betfair until after the convention? My point was almost all books settled it after the primaries, unless there was an assasination or "other" clause the above rule applied after the primaries. Betfair being Betfair waited until the 12th hour. The GOP is considered the governing body here and McCain was declared long ago by them.

[freerain]

It was'nt settled at betfair until after the convention? My point was almost all books settled it after the primaries, unless there was an assasination or "other" clause the above rule applied after the primaries. Betfair being Betfair waited until the 12th hour. The GOP is considered the governing body here and McCain was declared long ago by them.

Yes, betbetter. I put most of my bets after the primaries. I even put more wagers on September 1st and 2nd, which means, market was open just right before the convention announcement on September 4th (or 5th). I closely follow the US presidential election so i check betfair market (I mean US presidential election market) almost everyday.

Again, market was still open until September 4th (or 5th) depending on where you live. And one of the agents emailed with obnoxious explanation, which makes no sense at all. Like they will reopen the market (republican candidate market), if the candidate changes before November.

However, all the bets before were settled (and not will change) on September 5th, no matter what happens to McCain or even if the candidate changes.

Hope this answers your question. Sorry that I am a bit late replying, 'cause i was at work all day.

Thanks for hearing me out, betbetter.

[Justin7]

freerain,

There have been numerous candidates on ballots that are dead. There have even been dead candidates elected, although never for a US president.

[freerain]

I am not sure if i follow you right. But that seems to be my point.
'Seemingly' dead candidates right now might walk out of the tomb alive unless his body is still not rotten.

So settling the wager on Who will be the republican candidate for the Election? That should wait until the presidential election starts in November. Who knows? The Dead Candidate might be the republican candidate?

And who knows? He might be the president of USA?

[Ortho]

You don't understand. McCain is the republican candidate. If he dies 5 minutes or 5 days or 5 weeks from now, he will still be the Republican candidate. There is no possibility of another Republican candidate.

Who knows? The Dead Candidate might be the republican candidate?

Yes.

[betbetter]

Yes, betbetter. I put most of my bets after the primaries. I even put more wagers on September 1st and 2nd, which means, market was open just right before the convention announcement on September 4th (or 5th). I closely follow the US presidential election so i check betfair market (I mean US presidential election market) almost everyday.

Again, market was still open until September 4th (or 5th) depending on where you live. And one of the agents emailed with obnoxious explanation, which makes no sense at all. Like they will reopen the market (republican candidate market), if the candidate changes before November.

However, all the bets before were settled (and not will change) on September 5th, no matter what happens to McCain or even if the candidate changes.

Hope this answers your question. Sorry that I am a bit late replying, 'cause i was at work all day.

Thanks for hearing me out, betbetter.

Hmm, interesting angle. So you continued to bet other runners than John McCain up until he was declared at the convention? Could I ask why? You were counting on him dying and the candidacy going to exactly who? Palin? You were betting everything on her?

[freerain]

If he dies 5 minutes or 5 days or 5 weeks from now, he will still be the Republican candidate. There is no possibility of another Republican candidate.

No offense. but that's what you want to believe. If you want to say something like that, try to research first.

According to the presidential election procedure, if the announced the presidential candidate steps down for any reason until the election, another candidate would be selected to represent the party (or running mate, vp would become to take the job).

[freerain]

Hmm, interesting angle. So you continued to bet other runners than John McCain up until he was declared at the convention? Could I ask why? You were counting on him dying and the candidacy going to exactly who? Palin? You were betting everything on her?

It is a future bet, so i placed bets in a centain amount, with high value. Considering McCain's age and scandals around him, i thought it has a lot of values.

No not on Palin. I layed against McCain and some others. I do not believe that US is ready to have a female president yet.

Is there any way SBR can help me?

[Ortho]

No offense. but that's what you want to believe. If you want to say something like that, try to research first.

According to the presidential election procedure, if the announced the presidential candidate steps down for any reason until the election, another candidate would be selected to represent the party (or running mate, vp would become to take the job).

No, another PERSON would be selected to represent the party. That person would be the subject of either a write-in campaign, or it would be made clear that a vote for McCain was a vote for this person. McCain would still be the CANDIDATE. The 2 CANDIDATES the voters will have the opportunity to vote for in November are McCain and Obama, no matter whether McCain dies, is proven to be a cyborg, or is assassinated by you in an attempt to collect on your wager.